Retail units at Peninsula Plaza on sale for $26.2 mil
By Timothy Tay
/ EdgeProp Singapore |
The three ground-floor units at Peninsula Plaza are within sight of North Bridge Road and Coleman Street. (Picture: CBRE)
SINGAPORE (EDGEPROP) - Three street front-facing retail units at Peninsula Plaza are selling for $26.2 million. According to a press release from CBRE, the sole marketing agent announcing the sale, the properties will be sold through an expression of interest (EOI) exercise.
The three retail units are on the ground floor within sight of North Bridge Road and Coleman Street, with direct access from the pedestrian street. The units have a combined strata area of about 2,207 sq ft and a 999-year lease tenure and are fully leased to five tenants comprising three convenience stores, an apparel retailer, and a bank.
Peninsula Plaza is a 30-storey development comprising a five-storey retail podium; the rest is an office tower. Nearby commercial buildings include Funan Mall, Capitol Plaza, and Raffles City. The development is near City Hall MRT Interchange Station. (Find Singapore commercial properties with our commercial directory)
Details about Peninsula Plaza, as well as relavant property data, can be found on EdgeProp's Landlens analytics tool. (Map: EdgeProp Singapore)
“The units feature attractive attributes to investors, including their 999-year leasehold tenure, prominent frontages, high footfall locations that are near pedestrian crossings, proximity to other nearby malls and destinations, as well as attractive and stable rental income,” says Clemence Lee, executive director of Capital Markets, Singapore at CBRE.
He adds that this is an opportunity for investors to acquire “prime commercial assets with strong rental command and potential capital appreciation”. Lee expects keen buying interest from local and foreign investors, family offices and owner occupiers.
The EOI exercise closes on July 11.
Check out the latest listings near Peninsula Plaza, City Hall MRT Interchange Station
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